An Invoice Received from a Supplier for $8,000 on January

question 107

Multiple Choice

An invoice received from a supplier for $8,000 on January 1 with terms 1/15,n/30 means that the company should pay

• A)$7,920 before the end of January.
• B)either $7,920 before January 16 or $8,000 before the end of the month.
• C)$8,000 between January 2 and January 16.
• D)$6,800 before January 16.

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Definitions:

Sales Proposal

A document offered to potential clients by a seller to persuade them to purchase a product or service.

Executive Summary

A concise summary that provides a snapshot of a larger document’s key points, aimed at giving busy readers a quick and comprehensive overview.

Business Plan

A detailed document outlining the strategy, goals, financials, and marketing efforts for a business venture.

Calculating Figures Conservatively

Estimating numbers or financial data in a cautious manner, often underestimating to avoid overstatement or risk.